We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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De Beers Completes Sale of Kimberley Mines
Gaborone: De Beers Consolidated Mines (DBCM) announces that it has completed the sale of Kimberley Mines (all assets, including the tailings mineral resource) to Ekapa Minerals (Pty) Limited – an investor consortium comprising Ekapa Mining (Pty) (50.1%) and Petra Diamonds Limited (49.9%), according to a press statement issued by the Company. When it first announced it was selling the mine,
Russian Ruble Falls to Record Low
Moscow: The Russian ruble fell to its weakest level ever against the dollar on Thursday even as top officials tried to play down the significance of the depreciation, reports The Wall Street Journal. The ruble hit 86 to the dollar, pressured by weak oil prices, just days after having broken through the psychologically crucial threshold of 80. “Today we saw
PNG Jewellers Adopts Shillim Village
Mumbai: PNG Jewellers has collaborated with Aadkvasi Vikas Prabodhini and adopted Shillim Village of Mawal Taluk as a part of their Corporate Social Responsibility activity on 19th January. The goal is to dveleop Shillim Village by all means and as the first step, the executive director of PNG Jewellers Mr. Parag Gadgil and Mrs. Vaishali Gadgil inaugurated an E-Learning center
Rio Tinto’s 4Q Production +50%
Perth: Rio Tinto reported diamond production surged 50 percent year on year to 4.3 million carats in the fourth quarter that ended December 31 as output from the Argyle mine in Australia almost doubled. The Argyle pit in the remote East Kimberley region of Western Australia produced 3.4 million carats in the three months, an 86-percent jump from a year
Tanzanite Foundation Shutting Down
New York: The New York City–based Tanzanite Foundation will cease operations on Aug. 31. Tanzanite Foundation executive director Hayley Henning confirmed to JCK this week that the 11-year-old promotional agency for tanzanite will close at the end of August. Formed by miner TanzaniteOne, the nonprofit foundation has served all ethical and socially responsible operators and partners in the tanzanite industry,
New York Orders Comprehensive Ivory Ban
New York: New York’s Governor Andrew Cuomo signed legislation yesterday that amends the state’s environmental law to ban elephant ivory, mammoth ivory and rhino horn sales in New York. This state legislation enhances federal efforts to tighten the ivory trade ban on a federal level. Under the law, this permanent ban on the sales of these products has only a
Gemfields Reports Auction Revenues of $15.5 Million
Lusaka: Gemfields plc reported auction revenues of $15.5 million, the second highest achieved at any lower quality auction, of its auction of mostly lower quality rough emerald and beryl held in Lusaka, Zambia, from August 5 to 8. Excluding the sale of 1.5 tonnes of low grade beryl, the average realized price was $3.61 per carat, a new record for
Viewing of 122.52-Ct Blue Diamond to Start Soon
Johannesburg: Petra Diamonds will shortly start the viewing process for the sale of the exceptional 122.52-carat blue diamond that it recovered in June at the Cullinan mine in South Africa. The viewing process will open on Monday, August 18, and will close on Friday, September 12, when offers from prospective buyers are to be submitted. Appointments to view the stone
